Masatsugu Asakawa elected ADB new president

The Asian Development Bank (ADB) announced on Monday that its Board of Governors has "unanimously elected" Masatsugu Asakawa as ADB president, Report informs citing Xinhua.

Asakawa, 61, currently special advisor to Japan's prime minister and minister of finance, will assume office as ADB's 10th president on Jan. 17, 2020.

"Asakawa's extensive and diverse experience in international finance and development will serve ADB well in pursuing its vision of a prosperous, inclusive, resilient, and sustainable Asia and the Pacific," said Deputy Prime Minister and Minister of Economy and Finance of South Korea and Chair of the ADB Board of Governors Hong Nam-Ki, adding that "the ADB Board of Governors looks forward to working with Asakawa."

He will succeed Takehiko Nakao, who will leave office on Jan. 16, 2020. Asakawa will finish the unexpired term of Nakao, which ends on Nov. 23, 2021.